Abstract:
All of that should remind investors who once scoured the markets for a hot nanotech play that they may find nanotech-driven profits through multinationals. Not only do these international giants have the deep R&D pockets to sustain investment that might not pan out for years, they long ago built inroads for overseas collaboration.

Nanotech is one area of innovation that is not driven by start-ups -- at least for now. The day may come when a hot new IPO reignites fervor in so-called nanotech stocks. But for the foreseeable future, the next big thing belongs to the same old multinationals.